Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose: Construct two (2) 3-family houses for affordable housing. Entity Name: Ascension Capital Partners I, LLC. Entity Address: 59 Lincoln Park, Suite 200, Newark, New Jersey 07102 Sale Amount: $28,697.20 Cost Basis: (X) $4.00 PSF ( ) Negotiated ( ) N/A ( ) Other: Assessed Amount: $128,400.00 Appraised Amount: $0.00 Contract Period: To commence within three (3) months and be completed within eighteen (18) months from the transfer of ownership by the City Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ (X) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 41 Astor Street/Block 2812/Lot 24/East Ward 43 Astor Street/Block 2812/Lot 23/East Ward 45-47 Astor Street/Block 2812/Lot 22/East Ward Additional Information: Total Square Footage = 7,174.3X $4.00 = $28,697.20 Sale at prices set forth by Ordinance 6S&Fh adopted on April 7, 2004, establishing the minimum sale price of City-owned Property